News Renault: Ghosn sues Renault for payment of retirement compensation

Renault: Ghosn sues Renault for payment of retirement compensation

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The former boss of Renault Carlos Ghosn, who fled Japan where he is being prosecuted for embezzlement, seized the justice to claim with his former employer the payment of his retirement indemnity, according to corroborating sources confirming on Monday information of the Le Figaro daily newspaper.

“There is a procedure before the industrial tribunal” at the industrial tribunal, responsible for social affairs, in Boulogne-Billancourt, headquarters of the group near Paris, confirmed to AFP a source in the entourage of M Ghosn. A spokesman for Renault confirmed that the automaker had “received a summons to the industrial tribunal at the end of December”.

A hearing is scheduled “end of February”, said the two parties without revealing the precise date.

The dispute concerns the payment of a retirement indemnity of 249,999.99 euros. This sum was not paid to him by Renault on the grounds that Carlos Ghosn would have resigned from the company at the end of January 2019, while he was still in prison in Japan.

But the former boss, currently in Lebanon, claims to have left the company without resigning, in order to assert his retirement rights, when he was in fact prevented from leading the group.

“In particular in view of his arrest in Japan in November 2018”, Carlos Ghosn, was forced, on January 23, 2019, to inform Renault of his decision to permanently leave the company, in order to retire, “says his defense.

In spring 2019, he also took steps to liquidate his rights. “He has benefited from the payment of this pension since June 1, 2019,” it was said from the same source.

“I have rights vis-à-vis Nissan, vis-à-vis Renault, which have not been respected, and I intend to claim them in court,” warned Carlos Ghosn last Wednesday.

In his entourage, it is specified that another procedure, this time with the commercial court, is envisaged to obtain his “retirement hat” of a gross amount of 774,774 euros per year, as well as 380,000 performance shares.

These shares, allocated from 2015 to 2018 under the condition of presence in the company four years later, are valued at around 15.5 million euros at the current Renault share price.

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